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KMID : 1001320100370010311
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Social Welfare Policy
2010 Volume.37 No. 1 p.311 ~ p.338
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Uninsured Married Women`s Planning for Later Life: Implications for Pension Reform in Korea
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Woo Hae-Bong
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Abstract
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Using the Korean Retirement and Income Study, this study examines uninsured married women’s economic conditions and planning for old-age. In addition to the differences between uninsured and insured married women, this study finds substantial heterogeneity among uninsured women. Overall, uninsured women whose husbands are members of special occupational pension schemes are advantaged in terms of economic conditions and financial planning for old-age. On the contrary, uninsured women whose husbands are exempted from paying contributions under the National Pension Scheme(NPS) possess highly vulnerable sociodemographic characteristics and are poorly prepared for their old-age income security. The data also show that couples in which both husbands and wives are covered by the NPS are better prepared for their old-age compared to couples in which only husbands are covered. Finally, this study discusses policy implications for improving old-age security for uninsured married women.
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KEYWORD
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National Pension Scheme, uninsured married women, financial planning, Later Life
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